My husband and I decided to purchase a newly converted flat in Stoke Bishop with a residential mortgage from Clydesdale.We like our Stoke Bishop conveyancing practitioner but Clydesdale informed us his firm is not listed on their "panel". It seems we are left with no choice but to instruct a Clydesdale panel lawyer or retain our local solicitor and pay for a Clydesdale panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its various provisions, one of which will be that solicitors needs to be on the Clydesdale solicitor panel. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Clydesdale
Will our lawyer be raising enquiries regarding flooding during the conveyancing in Stoke Bishop.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Stoke Bishop. There are those who acquire a property in Stoke Bishop, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a number of checks that may be initiated by the purchaser or by their solicitors which will give them a better appreciation of the risks in Stoke Bishop. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to discover if the property has historically flooded. In the event that flooding has previously occurred which is not disclosed by the owner, then a purchaser could issue a claim for damages stemming from an incorrect answer. The purchaser’s lawyers will also order an environmental report. This will indicate if there is a recorded flood risk. If so, further inquiries will need to be carried out.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one round the corner in Stoke Bishop I like with open areas and station nearby, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Stoke Bishop suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
We're first time buyers - had an offer accepted, yet the selling agent told us that the owners will only go ahead if we appoint the agent's preferred lawyers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor accustomed to conveyancing in Stoke Bishop
We suspect that the seller is not behind this request. If they desire ‘a quick sale', turning down a genuine buyer is not the way to achieve this. Bypass the agents and go straight to the owners and explain that (a)you are genuine purchasers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you will continue to instruct your preferred Stoke Bishop conveyancing firm - as opposed tothose that will earn their estate agent a referral fee or meet his conveyancing figures demanded by HQ.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £375,000 garden flat in Stoke Bishop on Friday in a week. The landlords agents has quoted £396 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Stoke Bishop?
Stoke Bishop conveyancing on leasehold maisonettes typically involves fees being raised by landlords agents :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in Stoke Bishop
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Stoke Bishop Leasehold Conveyancing - A selection of Questions you should consider before buying
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Does the lease include onerous restrictions? How is the lease structured? It would be prudent to find out as much as possible concerning the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to practical issues such as the tidiness of the common parts. Enquire of other tenants whether they are happy with their management. Finally, find out the dates that the maintenance fees are due to the relevant party and specifically what you get for your money.